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Laparoscopic devices market to reach a value of $8.5 billion by 2018

Press Release   •   Dec 11, 2013 10:18 GMT

The laparoscopic devices market has been forecast to reach a value of $8.5 billion by 2018, driven by the growing demand for minimally invasive procedures, the increasing availability of highly trained surgeons, and the growing popularity of single-incision laparoscopic surgery.

Laparoscopic surgery represents one of the largest medical segments with about 7.5 million surgeries performed annually worldwide.

It is a modern surgical technique in which operations in the abdomen are performed through small incisions (usually 0.5-1.5 cm) as opposed to the larger incisions needed in laparotomy.

Driven by a slew of associated benefits, laparoscopy has evolved into a surgical standard with a sizeable number of open surgeries shifting steadily to this surgical procedure over the past decade.

Laparoscopically performed procedures are less invasive and offer significant cost savings in terms of pre and post operation care costs and length-of-stay at hospitals.

The current trend in laparoscopic surgery is operating through a minimal number of incisions. The market has been witnessing increasing adoption of single-port surgery driven by medical and cosmetic benefits.

The rise in adoption is also due to increase in high volume basic procedures such as appendicitis and gall bladder removal.

Also, rising interest in smaller port and scarless surgeries is spurring interest in ultra slim instrumentation that allows surgeons to conveniently access the abdominal cavity through smaller holes.

According to a recent market report, 'Laparoscopic Devices: A Global Strategic Business Report,' the United States represents the single largest market, while Asia-Pacific and Latin America represent rapidly growing markets worldwide.

Asia Pacific is forecast to increase at the fastest compound annual growth rate of 7.3% over the next five years. Improving healthcare infrastructure and the ability to perform laparoscopic procedures cost effectively are major factors driving growth in the region.

For more information on the laparoscopic devices market, see the latest research: Laparoscopic Devices Market

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